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2021-07-02
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Alibaba’s Jack Ma, Joe Tsai Pledge Shares for Loans, FT Reports
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Thank you!","highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":3,"repostSize":0,"favoriteSize":0,"link":"https://laohu8.com/post/156889140","repostId":1125498032,"repostType":4,"repost":{"id":"1125498032","kind":"news","pubTimestamp":1625210213,"share":"https://ttm.financial/m/news/1125498032?lang=&edition=full","pubTime":"2021-07-02 15:16","market":"us","language":"en","title":"Alibaba’s Jack Ma, Joe Tsai Pledge Shares for Loans, FT Reports","url":"https://stock-news.laohu8.com/highlight/detail?id=1125498032","media":"Bloomberg","summary":"(Bloomberg) -- Alibaba Group Holding Ltd.’s largest individual shareholders Jack Ma and Joe Tsai ple","content":"<p>(Bloomberg) -- Alibaba Group Holding Ltd.’s largest individual shareholders Jack Ma and Joe Tsai pledged parts of their combined $35 billion stake in the e-commerce giant in exchange for significant loans from banks, the Financial Times reported, citing company documents.</p>\n<p>The share pledges were made by offshore companies controlling more than half of the duo’s stake in Alibaba, which stood at 5.8% as of December, according to the FT. The documents didn’t disclose the amount of the share pledges, which began when Alibaba listed in the U.S. in 2014.</p>\n<p>The two billionaires pledged their shares to banks including UBS Group AG, Credit Suisse Group AG and Goldman Sachs Group Inc., the newspaper reported.</p>\n<p>Alibaba told the FT that co-founder Ma and his affiliates currently did not have any loans outstanding collateralized by the company’s shares. 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